Surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run up to Nov. 3 presidential elections.
British Pound Gains Momentum
2020-09-29 • Updated
Midday Market View
European shares slipped on Tuesday as investors awaited the first U.S. presidential debate and eyed progress of a fiscal stimulus package in Washington. The broader Euro STOXX 600 fell 0.4%, eroding hefty gains from a day earlier, with indexes in Frankfurt, Paris and London each losing between 0.4%-0.5%.
Midday Key Point
- Eurozone September final consumer confidence comes at -13.9 than -13.9 expected
- Germany reportedly may limit gatherings to curb virus spread
Gold moves to the 23.6% retracement level. It seems that gold loses strength under the current risk-off mood.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
Gold is trading sideways around the $1 900 level, but Biden’s victory will drive it upwards.
U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday.
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month